In the rapidly expanding world of retail media, success is no longer defined solely by the size of a retailer’s network or the sophistication of its technology stack — it’s defined by how well brands and retailers understand and serve their customers. 

A customer-first approach has become the true differentiator. Retailers that lead with customer value, not just commercial ambition, are building stronger ecosystems where data, trust, and personalisation work hand in hand. This mindset was at the heart of a fireside chat at Retail Media Pioneers in London, where Stephen Shepherd of Tesco Media & Insight Group and Jean-Vincent Chardon of mediarithmics explored how putting customers at the centre drives retail media maturity and long-term growth. 

Act 1 – Stephen Shepherd on Tesco’s Retail Media Journey From Loyalty to Leadership 

Opening the session, Jean-Vincent Chardon set the stage by introducing mediarithmics, a platform that unites Customer Data Platforms (CDP), Data Collaboration Rooms (DCR), and Data Management Platforms (DMP) into a single data foundation. With more than 50 leading retail brands and 150 media properties — including Valiuz, Channel 4, and Westfield — already on board, mediarithmics helps enterprises create a Single Customer View that fuels both audience monetisation and personalised marketing. 

He then welcomed Stephen Shepherd, who leads Tesco Media & Insight Group, to reflect on Tesco’s retail media evolution. 

Tesco’s journey began with its Clubcard loyalty scheme, launched in 1995. What started as a loyalty mechanic quickly became the bedrock of Tesco’s customer-first philosophy, enabling the retailer to understand, reward, and communicate with millions of households. 

“For us,” Shepherd explained, “the mantra has always been about putting the customer first. Whether in fulfilment, store experience, or media, the critical question is always: how are you engaging with the customer? That focus has been the foundation of our competitive edge.” 

Navigating Complexity in Retail Media 

Shepherd acknowledged that retail media touches every part of a retailer’s organisation — from marketing and merchandising to technology and compliance. Success, he said, depends on collaboration and alignment across all these functions.

“Driving outcomes that work for both advertisers and customers is vital. That only happens when there’s shared understanding and alignment across the business.” 

He identified three pillars for success: 

1. Data Governance – “Robust frameworks, from GDPR compliance to consent management, are essential for customer trust.” 

2. Customer-Centric Outcomes – Retail media must deliver tangible value to both advertisers and customers. 

3. Cross-Organisation Alignment – “A single customer view ensures marketing and retail media activities work towards the same objectives.” 

Act 2 – Jean-Vincent Chardon on European Insights and Data Collaboration 

Three Common Success Pillars 

Chardon shared that across Europe, the most advanced Retail Media Networks (RMNs) share three core characteristics: 

1. Unify & Govern Data – Retailers must reconcile loyalty, e-commerce, and in-store data under strict GDPR compliance. Connecting e-commerce data to marketing automation via a CDP can recover up to 1.5% of abandoned cart value through near real-time basket reminders. 

2. Enable RMNs at Scale – Unified data enables activation across onsite, offsite, and in-store channels with consistent measurement. For instance, Fnac-Darty has normalised ROPO (Research Online, Purchase Offline) reporting across its network, bolstering competitiveness against marketplaces. 

3. Facilitate Data Collaboration – Clean rooms are redefining how retailers, brands, and media owners collaborate. The Valiuz–Les Mousquetaires alliance, for example, combines data and point-of-sale insights to form a new European retail media leader. 

While France leads in structuring such ecosystems, Chardon noted that every retailer can revisit these foundations — integrating clean rooms into their CDPs and unifying teams around shared customer insight. 

Working with Broadcasters 

Chardon then turned the discussion back to Shepherd, who highlighted Tesco’s partnerships with ITV and Channel 4.

He described this as a “sofa to store narrative,” where customer data fuels activation across channels — from connected TV (CTV) to in-store experiences. 

This holistic view reflects today’s non-linear customer journey, where success depends on aligning people, processes, and platforms to deliver a seamless, value-driven experience. 

Closing Thoughts 

As the fireside chat concluded, both speakers reinforced a shared truth: the future of retail media belongs to those who put customers first. 

“Winners in retail media will be those who genuinely put customers at the heart of decision making,” said Shepherd. 

Chardon agreed, noting that mediarithmics’ mission is to help organisations re-wire around data and collaboration: 

“This is what ultimately allows retailers to keep customers at the centre while opening up new ways to partner with advertisers and media players.” 

The message from Retail Media Pioneers in London was clear: the retail media gold rush is just beginning, and the true leaders will be those who make customer-first thinking their competitive advantage.

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